MBA, Trade Groups Issue Joint Statement on GSE Adverse Market Fee

The Mortgage Bankers Association on Thursday joined a broad coalition of organizations representing the housing, financial services industries as well as public interest groups issued the following statement on the GSEs’ new adverse market fee.

MBA Mortgage Action Alliance ‘Call to Action’ Targets GSE Refi Fee

In the wake of new directive by Fannie Mae and Freddie Mac to impose a 50 basis point “Adverse Market Refinance Fee” on most refinance mortgages, effective Sept. 1, the Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a ‘Call to Action’ urging its 50,000 members to contact their members of Congress and the Federal Housing Finance Agency to roll back the directive.